Well now those greedy, market-destabilizing, market-manipulating speculators have changed course, and they're now driving gasoline futures prices down, see chart above from the CME. From today's WSJ:"U.S. gasoline-futures prices have dropped 16 cents a gallon over the past eight trading days, as more U.S. crude becomes available for refining into gasoline and fears about a shortage of refining capacity fade.Helping to spur the downturn is the reversal of a pipeline's flow that will give refiners in the Gulf Coast region greater access to crude, the basic feedstock for gasoline. North Sea Brent crude, the European benchmark which holds sway over gasoline prices, already has fallen by more than $7 a barrel this month, partly on this development."MP: In other words, the price of gasoline is actually being determined by market forces, specifically an increases in the supply of oil, and not by speculators.

U.S. crude oil climbed 2% on Wednesday on the start up of a new major pipeline, expected to help eliminate a bottleneck that has depressed the U.S. futures for three years, and on expectations that frigid weather in the Northeast would prompt strong demand for heating fuel.

West Texas Intermediate climbed for a fourth day as U.S. refiners boosted crude processing to the highest rate this year and industrial profits increased in China, the world’s second-largest oil consumer.

The price of oil slipped closer to $94 a barrel Monday after falling more than 7 percent in the past month on ample supplies and muted demand. By early afternoon in Europe, benchmark U.S. crude for December delivery was down 31 cents to $94.30 in electronic trading on the New York Mercantile Exchange. The contract dropped $1.77 to a four-month low of $94.61 on Friday.

According to the Lundberg Survey Incorporated, average gasoline price has dropped to a 10-month low in the US, and saw a further drop of 12 cents to $3.26 per gallon over the last three weeks, ending on October 10. Meanwhile, the United States Gasoline Fund, LP (UGA) which replicates the performance of spot price of gasoline dropped 10% during the same period.

CALGARY • Enbridge Inc. is working to open a major new pathway to the U.S. Gulf Coast for Alberta bitumen, solidifying a commercial link between the world’s No. 3 crude deposit and the Texas refining corridor that has so far eluded industry planners.
Canada’s largest pipeline company is spending $2.8-billion to “twin” its Spearhead pipeline from Flanagan, Ill., to Cushing, Okla., and another $1.1-billion to nearly triple capacity on its Seaway system between the Midwest storage hub and the Houston area.